Diversified business groups dominate the private sectors of most of the world's economies. Several of these economies have undergone sudden policy changes that significantly increase domestic competitive intensity. The authors demonstrate how the changes in corporate scope that accompany such...

Industrial organization theory has explored several issues related to licensing, but empirical analyses are extremely rare. We amass a new and detailed dataset on licensing contracts, and use it to present some simple "facts" concerning licensing behavior. Our analysis reveals robust...